Senior Manager, Innovation & Technology Risk Supervision
Position: Senior Manager, Innovation & Technology Risk Supervision
Location: Dubai
Job Purpose: The primary focus of this role is to lead efforts to supervise risk across a broad range of regulated entities in line with the risk-based approach. This role is responsible for supervision of Fintech Authorised Firms in regulated entities to ensure compliance with relevant regulations, providing technical guidance, and engagement with internal and external stakeholders.
The Role: You will be responsible for the supervision of the individual Fintech Authorised Firms and potentially any ITL managed firms within ITR SUP and support other Departments for them to contribute to the achievement of the strategic and business objectives and to be consistent with the Board of Directors statements of risk tolerance. They will also assist the Associate Director to drive Innovation and Ecosystem development as part of the ITR SUP and strategy.
Key Responsibilities- Lead, support and/or contribute to the monitoring of risks of regulated entities and ensure they comply with supervisory service standards, processes and procedures.
- Lead, support and/or contribute to professional discussions with the management of regulated entities to gather and corroborate information for the assessment of risk.
- Lead, support and/or contribute to desk‑based reviews and onsite risk assessments, thematic reviews, analysing firm‑specific financial and non‑financial data through write clear and concise memoranda and reports.
- Analyse firm‑specific data along with market information, to be able to identify emerging risk trends, which could have a material impact on regulated entities, in order to take appropriate actions and inform the line manager accordingly.
- Draw conclusions and recommend remedial actions as a result of supervisory engagements as appropriate.
- Follow‑up on the supervisory risk mitigation plans to ensure they are implemented within the agreed timelines.
- Validate the closure of poor compliance and weak controls.
- Ensure Enforcement referrals are made on time, and as agreed with the relevant Director.
- Operate within the first line of defense where you will share responsibility for ongoing risk management while promoting a strong risk culture within the division and across the organisation in line with the Risk Management Framework.
- Assist with developing supervisory guidelines for risk assessments.
- Update the supervisory tools and systems and have a sound knowledge of the analytical tools in order to extract ad‑hoc reports.
- Assist in the assessment of applicants for new financial services licenses.
- Act as a technical expert in the subject matter and provide internal training as needed.
- Provide advice and technical guidance internally as required to facilitate timely resolution of complex problems or challenges.
- Provide technical advice and guidance to regulated entities on relevant matters in order to ensure delivery of effective and efficient risk-based supervision.
- Monitor developments in relevant international and regional regulatory standards and in the financial services industry and provide inputs and updates.
- Implement Supervision Division‑wide strategic direction, business planning and policy formation.
- Contribute to development and implementation of supervision strategy for the team, consistent with the goals and objectives.
- Participate in and provide input to wide projects as required by the Business Plan.
- Assist in policy setting and in developing regulations.
- Support the professional development programs through program development, delivery and participation. Support and contribute to the Masaar program.
- Where applicable, motivate subordinates (including Masaar graduates and interns) and junior members of the team.
- Support in delivery of training objectives for subordinates (including Masaar graduates and Interns)
- Support and/or contribute to the identification of opportunities for continuous improvement of systems, processes and practices of the overall regulatory regime, taking into account…
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